In one of the rare Crowdfunding success stories in India from the IT products space, SatNav Technologies has raised a multi-crore Bridge Round Funding from HNIs worldwide. After securing Series A investment from Global VC Sequoia Capital and BCCL earlier, the company has been strengthening its Enterprise Software Products Portfolio, also expanding on the customer base since then. Once Business Development began in earnest in March 2013, the company evaluated whether to invest efforts in securing a Series B round of investment or first expand the sales network worldwide.

Since the latter strengthens any organization, automatically makes its attractive for future investors, the SatNav Management decided to focus on Sales Network creation and instead meet its short term needs through a 2mn US$ Bridge Funding interim round. Speaking on the development, Founder CEO Amit Prasad said, “The positive interest from a large group of investors is a testimony to the huge potential that exists for our products worldwide. We are now adequately funded for current requirements, to ramp up in future we will target a 30mn US$ Series B fund raise after a few quarters of growth.”

In-Focus : How we help our customers

a-mantra for Banks :

Improves internal customer satisfaction

Work Space Management & Asset Tracking gets automated

Help Desk Automation ensures transparency and ownership from service provider

Web-based system (accessible across locations, with defined user privileges) cuts down all the Non-Value Added activities

Business specific parameters like time to be spent at the stores, coverage frequencies, Work timings etc. are also automatically integrated

Telangana CM inaugurating new fleet

In an interaction with the SatNav Times, Amit said, “After just a year of BD efforts worldwide, we now have a network of 17 Sales Partners across 10 countries. A huge pipeline of potential customers is being built up which will help scale the company rapidly in the coming quarters. Over the last 6 months I have personally met our partners across India, Australia, New Zealand, USA & UAE. They all see immense potential for our products in their respective markets and have already started building a funnel of prospective customers.

We have embarked upon the ambition of reaching a Billion Transactions on our SatTracx LBS Platform and 10 million users for our CAFM Platform a-mantra by next year. This will be achieved by building a network of 50 Sales Partners across 20 countries by December 2015, a comprehensive list of potential partners is currently being evaluated by my Co-founder Arpitha. SatNav is poised to emerge as a Global Leader in Enterprise Solutions for Enhancing Efficiency of large corporate. Our existing customers today vouch that SatTracx improves in-the-field efficiency of their Work Force and a-mantra ensures savings by better infrastructure utilization in-the-office, thereby improving both the top line and bottom line".

17 partners in 10 countries

Ayatha Enterprises joined the Sales Partner Network, is actively Focusing on LBS Solutions for Government Departments and CAFM for Large Corporate

Raj Sakhumalla has enrolled as a Partner and is focusing on a-mantra for Banking & Financial Institutions, Military Organisations & Real Estate Companies

100mn Transactions, 700k Users

US Market Entry A detailed US market strategy is being worked upon by Sales Director Anshuman Sinha, under the guidance of Co-founder Ajay Prasad. California based Marketing Research company was hired in June to fine tune collateral & launch by mid September

BD in Australia / New Zealand 3 weeks of Australia / New Zealand market analysis was conducted and a network of partners is now being set up to start creating a funnel in this high potential market

BD in Singapore
Sales Director Dr. Vikas Sharma spent 3 weeks in Singapore scoping the market, meeting with potential partners and customers. A market expansion strategy is being drawn up

Govt. Vertical Set upSatNav Co-founder Rajendra Adepu is building a Sales Funnel in the newly set up Government Vertical. A couple of Sales Partners have already been signed up for this new vertical and it will be expanded both in India and abroad

Idea Cellular on SatTracx
SatNav Co-founder Selva implemented SatTracx Tracking Service for Idea cellular for select business teams in Hyderabad.
This is helping track and optimize their fleet management expenses on a pilot basis

Telangana Police on SatTracx
Phase 1 project for tracking Vehicles of the Hyderabad City Police was implemented. During a recent function the Chief Minister launched a new fleet of Toyota Innova Vehicles (in pic) which have been procured for the Department, some of which have been installed with SatTracx Tracking